18.4 Per Cent Increase in Building Construction Investment Demonstrates Growth in Province
Province Sees Impressive Year-Over-Year Growth, Ranking Third in the Nation
Figures published today by Statistics Canada indicate that Saskatchewan ranks third in the nation for year-over-year growth in investment in building construction.
“These statistics are further proof that our investment friendly business environment and stable regulatory regime are leading to economic prosperity for the province,” Trade and Export Development Minister Jeremy Harrison said. “As our construction sector continues to flourish, Saskatchewan people are seeing the benefits of a strong economy with more added jobs, and how this economic strength leads to a higher quality of life for communities across our province.”
The latest data shows an 18.4 per cent (seasonally-adjusted) increase in investment in building construction for January 2024 compared to January 2023, which is third in the nation for growth in this category. The province also saw a 2.1 per cent (seasonally-adjusted) rise in month-over-month growth from December 2023 to January 2024.
In total, $433.0 million was invested in building construction projects during January 2024.
Investment in building construction represents the spending value on building construction in the province.
Saskatchewan had further positive data on the economic front with 18,700 new full-time jobs added in February 2024. The province now boasts the third lowest unemployment rate in the nation. This job growth was spurred on by the $12.4 billion in private sector capital investment that flowed into the province last year.
The province also recently launched Securing the Next Decade of Growth: Saskatchewan’s Investment Attraction Strategy, along with a new investSK.ca website. This brand new strategy and website will be tools for increasing further growth in Saskatchewan.
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